FX GLOBAL CALL: Our Take on the Day's Big FX News

By

Brian Baskin

Dec. 6, 2012 7:00 a.m. ET

1. The Australian dollar continues its remarkable rise, hitting a two-and-a-half-month high against the U.S. dollar after Australia's unemployment rate unexpectedly fell to 5.2% in November. The drop was largely attributed to part-time work, but boosted the confidence of those betting the central bank is done with rate cuts for a while.

2. The yen edges closer to an eight-month low as the first polls of the election campaign show the Liberal Democratic Party winning handily on Dec. 16. LDP leaders haven't softened their...